Quantbot Technologies LP Takes $6.12 Million Position in Zions Bancorporation, N.A. $ZION

Quantbot Technologies LP acquired a new position in shares of Zions Bancorporation, N.A. (NASDAQ:ZION) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 88,520 shares of the bank’s stock, valued at approximately $6,125,000. Quantbot Technologies LP owned 0.06% of Zions Bancorporation, N.A. at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in Zions Bancorporation, N.A. during the 2nd quarter worth approximately $982,244,000. Dimensional Fund Advisors LP raised its holdings in shares of Zions Bancorporation, N.A. by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 7,477,126 shares of the bank’s stock valued at $430,813,000 after purchasing an additional 56,438 shares during the last quarter. LSV Asset Management lifted its position in shares of Zions Bancorporation, N.A. by 1.3% in the fourth quarter. LSV Asset Management now owns 3,888,064 shares of the bank’s stock worth $227,607,000 after purchasing an additional 48,346 shares in the last quarter. Morgan Stanley lifted its position in shares of Zions Bancorporation, N.A. by 10.8% in the fourth quarter. Morgan Stanley now owns 3,151,319 shares of the bank’s stock worth $184,478,000 after purchasing an additional 306,717 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Zions Bancorporation, N.A. by 31.6% during the third quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock worth $167,677,000 after purchasing an additional 711,218 shares during the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ZION shares. Cantor Fitzgerald raised their target price on shares of Zions Bancorporation, N.A. from $69.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Evercore cut shares of Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 price target on the stock. in a research report on Thursday, July 23rd. Wall Street Zen upgraded shares of Zions Bancorporation, N.A. from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. TD Cowen raised their price objective on Zions Bancorporation, N.A. from $71.00 to $73.00 and gave the company a “hold” rating in a report on Tuesday, July 21st. Finally, Royal Bank Of Canada lifted their target price on Zions Bancorporation, N.A. from $74.00 to $76.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 21st. Six equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Zions Bancorporation, N.A. presently has an average rating of “Hold” and a consensus price target of $71.29.

Zions Bancorporation, N.A. Price Performance

Shares of NASDAQ ZION opened at $68.14 on Friday. The business’s 50 day moving average price is $69.71 and its two-hundred day moving average price is $63.67. The company has a market cap of $9.95 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 1.62 and a beta of 0.81. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.26. Zions Bancorporation, N.A. has a twelve month low of $46.19 and a twelve month high of $73.34.

Zions Bancorporation, N.A. (NASDAQ:ZION) last released its quarterly earnings data on Monday, July 20th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.17. Zions Bancorporation, N.A. had a return on equity of 13.72% and a net margin of 23.92%.The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $877.44 million. During the same period last year, the firm posted $1.63 earnings per share. The business’s revenue was up 35.7% on a year-over-year basis. On average, analysts predict that Zions Bancorporation, N.A. will post 6.6 EPS for the current year.

Zions Bancorporation, N.A. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were paid a $0.48 dividend. This is a boost from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, August 13th. This represents a $1.92 dividend on an annualized basis and a yield of 2.8%. Zions Bancorporation, N.A.’s dividend payout ratio (DPR) is currently 24.46%.

Zions Bancorporation, N.A. declared that its Board of Directors has approved a share buyback plan on Saturday, May 2nd that authorizes the company to repurchase $225.00 million in outstanding shares. This repurchase authorization authorizes the bank to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Zions Bancorporation, N.A.

In other Zions Bancorporation, N.A. news, President Scott J. Mclean sold 33,285 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $70.63, for a total value of $2,350,919.55. Following the transaction, the president directly owned 73,043 shares in the company, valued at $5,159,027.09. The trade was a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Derek Steward sold 894 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $69.65, for a total transaction of $62,267.10. Following the completion of the transaction, the executive vice president directly owned 17,449 shares in the company, valued at $1,215,322.85. The trade was a 4.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 88,787 shares of company stock valued at $6,283,858 in the last quarter. 1.43% of the stock is currently owned by insiders.

Zions Bancorporation, N.A. Profile

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.